Exchange Traded Concepts LLC Grows Position in Premier, Inc. (NASDAQ:PINC)

Exchange Traded Concepts LLC raised its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,582 shares of the company's stock after acquiring an additional 16,663 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.11% of Premier worth $1,997,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after acquiring an additional 786 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after buying an additional 1,427 shares during the period. Van ECK Associates Corp increased its position in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after buying an additional 446 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Premier in the fourth quarter valued at approximately $52,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Premier in the fourth quarter valued at approximately $82,000. 74.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PINC has been the subject of a number of research reports. Robert W. Baird boosted their price objective on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Canaccord Genuity Group boosted their price objective on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their price objective on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $22.20.

Premier Stock Performance

NASDAQ PINC traded up $0.02 on Thursday, reaching $22.27. The stock had a trading volume of 1,777,976 shares, compared to its average volume of 1,260,500. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The business's 50-day moving average price is $21.85 and its 200 day moving average price is $20.72. The stock has a market cap of $1.83 billion, a P/E ratio of 39.07 and a beta of 0.57.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, May 30th. Premier's dividend payout ratio (DPR) is presently 147.37%.

Insider Transactions at Premier

In other news, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director now owns 28,673 shares in the company, valued at $660,339.19. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David L. Klatsky sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the sale, the general counsel now owns 90,597 shares of the company's stock, valued at $1,769,359.41. This trade represents a 9.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,119 shares of company stock worth $516,976 over the last 90 days. 0.96% of the stock is currently owned by insiders.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.